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Financial News

  • BAT dropped from tax reform effort

    The import tax proposal has officially been removed from the tax reform plan — which is welcome news for retailers across the industry.

    On Thursday, congressional and administration leaders announced they would remove the Border Adjustment Tax from consideration, and announced an outline for comprehensive tax reform. The BAT provision would have ended importers’ ability to deduct the cost of merchandise purchased from other countries. 

  • McKesson Q1 revenues up 3% to $51.1 billion

    SAN FRANCISCO — McKesson on Thursday reported revenues of $51.1 billion for the first quarter ended June 30, up 3% compared to the year-ago period. First-quarter adjusted earnings per diluted share was $2.46, down 22% compared to $3.15 a year ago.

  • Comparable Q1 pharmacy sales up 10.1% for Jean Coutu

    VARENNES, Quebec — The Jean Coutu Group on Tuesday reported $580.6 million in revenues for the first quarter ended June 3, representing an increase of 3.7% that was attriubuted to overall market growth by the Canadian retailer.

  • Brands brush up on dental hygiene sales

    It appears oral care brands are borrowing a page from the skin care playbook. To brush up on sales, more oral care brands are mirroring trends that have boosted mass market skin care sales — double-duty toothpastes, a trend toward “premiumization” and building momentum for more naturally positioned offerings.

  • Consumers encouraged to buy, apply more sunscreen

    After years of ignoring warnings that sun exposure poses a health risk and hastens aging, consumers are starting to see the light. In fact, overall category sales rose 6.7% for the 52-week period ended May 14 across multi-outlets, according to IRI. Lotions and oils advanced almost 7%, and sunscreens and bug repellants jumped 3.5%.

    But retailers and marketers said much more needs to be done. A recent Marist Institute for Public Opinion Poll said only 1-in-10 people apply sunscreen regularly.

  • Walgreens Boots Alliance generates $30.1 billion in Q3 sales, up 2.1%

    DEERFIELD, Ill. — Walgreens Boots Alliance on Thursday generated fiscal 2017 third quarter net earnings of $1.2 billion, up 5.3%, for the period ended May 31. Sales in the third quarter were $30.1 billion, an increase of 2.1% from the year-ago quarter, and an increase of 5% on a constant currency basis.

  • Rite Aid Q1 revenues decline 4.9% to $7.8 billion

    CAMP HILL, Pa. — Rite Aid on Thursday reported revenues of $7.8 billion, a decrease of 4.9%. Net loss totaled $75.3 million, or $0.07 per diluted share, and adjusted net loss was $52.4 million, or $0.05 per diluted share.

  • Kroger Q1 total sales up 4.9% to $36.3 billion

    CINCINNATI — Kroger on Thursday reported net earnings of $303 million, or $0.32 per diluted share, and a decline in identical supermarket sales , without fuel, of 0.2% in the first quarter of 2017.

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